Summer boost to UK property market hides underlying lack of lending in real estate

[Nicholas Wallwork]

*

Continued reluctance by lenders in the UK to improve lending*is set to create a slower number of property sales in the*latter part of the year but a more stable real estate market*is predicted for 2010.

Although the market picked up over the summer months lending*is still historically very low, the Council for Mortgage*Lenders is warning.

Click Here to Read The Full Story and Add your Own Comments to Summer boost to UK property market hides underlying lack of lending in real estate

 

[Damian George]

In the UK, July mortgage approvals rose to 38,181 from 35,564 in June, the British Bankers Association reported, a rise of 7.4% m/m and the highest since Feb 2008. Remortgage approvals were also higher, 30,600 from 28,454 in June. As for sterling value, the July approvals totaled £5.207 from £4.743 billion in June. This failed to be sterling-supportive as the pound remained yoked at the neck with the Shanghai stock index.
(source Rockefeller Treasury Services - Futures FX Trading for Currencies and Foreign Exchange)

seams lending is up - but a a prices as the banks put rates up further